Tuesday, January 30, 2007
Adam Carasso & C. Eugene Steuerle have posted From Personal Income to Taxable Income, 1950-2004, 114 Tax Notes 351 (2007), on the Urban Institute web site. Here is the abstract:
While much of the tax debate usually swirls around statutory tax rates, those rates must be applied to a base. The tax base can be approximated by the amount of taxable income that is reported on taxable returns. This article examines changes in the fraction of Americans' personal income subject to tax from 1950 to 2004 and the factors that explain these changes over time.